Sri Lanka is in a prime postion for investment at the moment but its important to confront the onging harsh realities of crisis faced by global markets, billionaire George Soros told an economic forum in Sri Lanka.

"Don't rest on your laurels. Its important to do more in terms of growth," Mr Soros told a gathering at the opening day of the ongoing Economic Forum in COlombo.

Soros is part of a panel engaged in discussion on the "Global Setting" currently underway at the Cinnamon Grand.

Further Soros said Global markets are facing a crisis and investors need to be very cautious. He said China is struggling to find a new growth model and its currency devaluation is transferring problems to the rest of the world, Soros said. A return to positive interest rates is a big problem for the developing world, he said.

The current environment “reminds me of the crisis we had in 2008," Soros said in Colombo